In A Hot Housing Market, These Zip Codes Are Sizzling
Abstract
In these Zips, homes sold in just over a week and received nearly four times more buyer views than a typical listing. The 2022 hottest Zip codes in America in order of rank are: "With rising inflation and mortgage rates squeezing monthly housing budgets, this year's determined buyers are breathing new life into competition for homes in historic areas like New England, said Danielle Hale, chief economist for Realtor.com."Our 2022 hottest Zips ranking illustrates how many Americans are redefining their priorities to achieve homeownership while building their careers, by trading downtown life for relatively affordable areas with reasonable part-time commutes to big cities. In the first half of the year, at least one big East Coast city, whether it was Boston, New York or Washington D.C., was among the top five sources of buyers viewing listings in all 10 of the hottest Zips. Affordability challenges drive demand in relatively small Zips offering high-value homes As a result of rising inflation and higher costs for housing and everyday expenses, home buyers have set their sights on areas that offer a good bang for their buck, making value a key theme among this year's hottest Zips. At the same time, driven by the rise in demand, home prices across the hottest Zips grew at a faster year-over-year pace than listing prices nationwide. On average, buyers in the hottest Zips are well-qualified with higher credit scores and larger down payments compared with the typical American home shopper. Zip spotlight - No. 1 14618 Brighton, New York.: Topping this year's ranking with its debut is ZIP 14618 in the Rochester metro area, which has now been represented on the list by other Zips for three years in a row.
